Retail Sales Top Expectations, Jobless Claims Fall

IBTimesTV
102
8 views
  • About
  • Export
  • Add to

Retail Sales in the U.S. increased more than forecast in May.  Retail Sales in May rose 0.6 percent, beating estimates of a 0.4 percent increase and following a 0.1 percent increase in April. Economists polled by Reuters had expected retail sales to rise 0.4 percent last month.

When excluding cars, retail sales rose 0.3 percent in May, which was a slightly below forecast for the month.

Separate data Thursday showed the number of Americans filing new claims for unemployment benefits fell last week, nearing its lowest level in five years. Initial claims for state unemployment benefits declined 12,000 to a seasonally adjusted 334,000, the Labor Department said on Thursday.

However, an unexpected fall in imports and exports prices in the U.S. pointed to signs of mixed economic growth. Import prices slipped 0.6 percent last month, the Labor Department said on Thursday.

In company news, Dupont Co. (NYSE: DD) CEO announced Thursday that the company’s full-year earnings will be at the low end of its previous forecast as unfavorable weather in North America and Europe affected second-quarter revenue. DuPont expects its 2013 per-share operating earnings will be at the low end of $3.85 to $4.05.

0 comments